[Assessed 82.7%] Apartment building in Sagamihara, Kanagawa — 10 min from Chuo-Rinkan Sta.
Property Overview
| Location | Sagamihara, Kanagawa |
| Nearest Station | Tokyu Den-en-toshi Line Chuo-Rinkan Sta. |
| Walk | 10 min walk |
| Assessed Ratio | 82.7%Assessed 82.7% |
| Price | ¥68,750,000 |
| Type | Condominium building |
| Expected Yield | 8% |
| Structure | Reinforced concrete (RC) |
| Built | Built Oct 1989 (36 years old) |
| Land Area | 158.04㎡ |
| Building Area | 296.09㎡ |
Where This Property Is Listed
This property appears on the sites below. Listings matching on location, land area and building area are merged into a single article as the same property.
| Rakumachi | ¥68,750,000View listing |
Assessed Value Breakdown
| Land assessed value | ¥33,978,600 |
| Building assessed value | ¥22,868,228 |
| Total assessed value | ¥56,846,828 |
| Asking price | ¥68,750,000 |
| Assessed ratio | 82.7% |
Calculation basis
- Land = road price ¥215,000/m² × land area 158.04m²
- Building = replacement cost ¥330,000/m² × floor area 296.09m² × remaining life 11y ÷ statutory life 47y
- Built Oct 1989 (36 years old)
Official Road Price Trend (last 3 years)
Cumulative change 2024 → 2026: +16.2%| Year | Road price (JPY/m²) | YoY |
|---|---|---|
| 2024 | 185,000 | — |
| 2025 | 200,000 | +8.1% |
| 2026 | 215,000 | +7.5% |
※ Based on inheritance-tax road prices published each July — a reference for the trend in land collateral value.
How We Checked This Property
The listing's walking times to stations did not match the actual address. This is the record of re-measuring the nearest station from the coordinates, then reading four road price map sheets to establish the local spread.
What We Could Not Confirm
- The listing's walking times to stations (19 minutes to Machida, 21 to Sagami-Ono, 23 to Odakyu Machida) do not match the actual address, and the listing contradicts itself with a separate "16 minutes to the station". We record Chuo-Rinkan as the nearest station based on our own measurement of the coordinates. However, the lot number is undisclosed and we measure from the chome reference point, so the actual walking time may differ by a few minutes. On-site confirmation is needed.
- With the lot number undisclosed, we take the road price from the conservative end of the chome band rather than identifying a specific block. Streets around the property's coordinates read 225,000 yen per sqm, but we calculated on 215,000. A known lot number would improve precision.
- At 36 years old, securing a financing term on this reinforced concrete building is a challenge. The seller's own listing states they have approached lenders willing to discuss long-term financing on older RC buildings, so lender selection is a precondition here.
- The listing gives no indication of the prospects for a replacement tenant should the ground-floor childcare facility leave. The remaining lease term and its conditions need checking.
- The Geospatial Information Authority elevation API did not respond, so we have no terrain corroboration. The retaining wall assessment rests solely on cross-checks within the photographs.
※ Rather than reproducing the listing as-is, we verified the figures against public sources such as the official road price maps and the listing photos. This is not based on a site visit, so please confirm on site and with the seller before deciding.
Neighborhood ① Shopping Near the Station
Neighborhood ② Dining Near the Station
About This Property
⚠️ A caveat about the listing's transport details comes first. The listing states "Machida Station on the JR Yokohama Line, 19 minutes on foot", "Sagami-Ono, 21 minutes" and "Machida on the Odakyu Line, 23 minutes". But from the property's address in Kamitsuruma 8-chome, Minami-ku, Sagamihara, Machida Station is about 3.0km away in a straight line and Sagami-Ono about 2.0km, distances a 19-minute walk does not cover. Another field on the same listing page says "16 minutes to the station", so the figures contradict each other within the listing. Checking the coordinates ourselves, the actual nearest station is Chuo-Rinkan on the Tokyu Den-en-toshi and Odakyu Enoshima lines, about 330m in a straight line from the chome reference point. What follows uses that measurement rather than the listing's walking times.
The property is a four-storey reinforced concrete apartment building dating from October 1989. The land is 158.04 sqm with 296.09 sqm of floor area across six units, a varied mix of two studios, one 2LDK, one 1LDK, one 2K and one office. The price is 68.75 million yen against projected full-occupancy income of 5,503,200 yen a year, a gross yield of 8.00%. It is currently fully occupied.
A childcare development support facility occupies the ground floor. The seller presents this as the property's main feature, arguing that such a tenant carries lower vacancy risk than a typical commercial tenant.
⚠️ At 36 years old, the reinforced concrete construction warrants thought on the financing side. The seller's own listing notes that they have approached lenders willing to discuss long-term financing on older RC buildings, acknowledging that lender selection is a factor here.
The assessed value ratio is 82.7%, comprising 33,978,600 yen of land and 22,868,228 yen of building, with the building making up around 40% of the total. Against the 47-year statutory service life for reinforced concrete, 36 years leaves 11 years remaining, and that remainder drives the building figure. The inheritance tax road price is 215,000 yen per sqm, up 16.2% over three years: 185,000 in 2024, 200,000 in 2025, and 215,000 in 2026.
Kamitsuruma 8-chome spans four road price map sheets, so we catalogued every local street in the chome to establish the spread. Values run from 210,000 to 230,000 yen per sqm, with 225,000 the most common. Streets around the property's coordinates are all 225,000, but we used the conservative 215,000. At the most common 225,000 the ratio would be 85.0%, and at the chome's lowest 210,000 it is still 81.5%.
This is a property to evaluate by separating three things: a location close to a station with full occupancy, the financing difficulty of 36-year-old reinforced concrete, and the fact that the listing's transport details do not match the actual site.
Estimated Financing
Suggested Lenders
※ General tendencies of lenders covering this area, for information only. This does not guarantee or suggest any specific financing outcome.
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